Summit Financial, a leading architect of advisor success and client satisfaction for over four decades – in collaboration with Merchant Investment Management – announced that it has acquired an equity stake in the wealth management arm of Meeder Investment Management.
Meeder’s other business lines (including its Public Funds and Advisory Consulting divisions) are not part of this deal and will remain part of the independently owned company. And Meeder Wealth Management will now benefit from SummitVantage, a proprietary and integrated platform with access to top-tier single sign-on technology, value-add services, and comprehensive support in operations and compliance. Plus, they will also have the opportunity to tap into a deep bench of professional strategy experts in financial planning, insurance and investments.
For over 50 years, the Dublin, Ohio-based Meeder Wealth Management team has helped guide its clients toward financial success through personalized and comprehensive financial planning. The firm offers differentiated value-add services, including investment management services to high-net-worth and mass-affluent clients, retirement plan solutions, and corporate investment solutions. Harnessing a wide range of investment disciplines and delivering best-in-class client service, Meeder’s Wealth Management business has built up nearly $400 million in assets under management (AUM) to date.
Summit provides top breakaway and independent advisors an opportunity to align with the firm through partnership options that offers unmatched flexibility and access to Summit’s suite of services, including technology, financial planning, investment management, insurance and operational support. And the advisors joining Summit’s RIA maintain full ownership of their businesses.
As part of this agreement, Meeder’s Wealth Management division will be retaining its branding and entire team. And this includes Jason Click, CFP, President; Mike Saraullo, Vice President; Mike Miller, Senior Wealth Advisor; Ryan Johnson, Senior Wealth Advisor; Tricia McDermott, Senior Wealth Coordinator; and Sara Story, Wealth Coordinator.
KEY QUOTES:
“Having focused on the institutional side of our business, we needed to determine the future direction of our wealth management division. We considered several options: maintaining the status quo, investing to build it out ourselves, or finding partners to help elevate our wealth management business to become a national RIA. We decided to find the right partners, and selected Summit Financial and Merchant, and now believe we have established a world class partnership with the objective of driving growth and transforming the business into a multibillion dollar organization with partnerships across the nation.”
- Bob Meeder, President and CEO of Meeder Investment Management
“We’re thrilled to welcome the Meeder Wealth Management team, supporting them in the delivery of nearly frictionless advice. For these types of firms, which share a passion for growth while upholding a client-first mentality, Summit is a natural fit. We’re looking forward to empowering Meeder’s Wealth Management team for another fifty years of success.”
- Stan Gregor, CEO of Summit Financial Holdings
“Our association with Meeder began on a note of mutual admiration and shared ambition, naturally evolving into this alliance. We’re excited to see Meeder Wealth Management soar to new heights with this partnership.”
- Rob Blevins, Partner at Merchant
